Locus Solutions – The Financial & Legal Services
The global financial services industry is challenged with finding new approaches to maximize profitability. In mature markets, banks and insurance companies face challenges to reduce operational complexity and gain deeper customer insights to grow revenue. While in emerging markets, this industry is focused on innovation to tap new opportunities for growth and maintain cost leadership.
- Increase portfolio value through analysis of customer data, establish service differentiation and improve fraud protection. We work with leading banks and financial institutions to deliver fact-based insights quickly, design targeted marketing campaigns with higher return on investment and devise cross-sell campaigns that significantly improve their portfolio value. Our specific areas of focus are: Customer Acquisition, Segmentation, Portfolio Management, Loyalty Management, Retention and Fraud Analytics
- Harnessing and using this data effectively is the new basis for competitive advantage. Data analytics can identify opportunities to increase workforce efficiency; improve pull-through, reduce defect rates, and increase speed in loan manufacturing; and help you reduce risk
Law firms and legal departments have always had the expertise and talent to discover and assemble data into facts, insights and results. In today’s world where 2,500,000,000,000,000,000 bytes of data are created every day, this is both the opportunity and challenge for the business of law. And it’s not just tremendous volumes of data that will be the challenge, it is the vast array of structured, semi-structured and unstructured data that requires a new way of thinking.
The opportunities for law firms and legal departments include:
- Put artificial intelligence and cognitive computing to practical use in legal research, e-discovery, compliance, contract analysis, case prediction, and document automation.
- Don’t fall behind with old processes; instead, implement big data solutions to automate and optimize routine questions, sifting data to quickly predict case outcomes.
- Demonstrate a mastery of big data management and cognitive computing as a competitive differentiator and faster time-to-results for a client base that is less-prepared for the data growth.
Video: Weather Data as a Tool
Insurance companies use weather alerts to create policy holder value and avoid claims